SAN FRANCISCO, August 25, 2016 /PRNewswire/ --
The global artificial pancreas device system (APDS) market is expected to reach USD 390 million by 2024, according to a new report by Grand View Research, Inc. Rising occurrence of diabetes, increasing incidence of adverse effects due to improper insulin administration, and the growing interest of industry participants in the development of innovative treatments are some vital impact rendering drivers.
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As of 2014, the Centers for Disease Control stated that about 1.5 million individuals in the U.S. alone are suffering from type 1 diabetes. Furthermore, the development of sedentary lifestyles among teenagers is propelling the probability of disease development globally.
Hence, the economic burden weighing over the healthcare system due to the rising incidence of diabetes has led to an increase in the research activities and funding by government bodies across the globe. Furthermore, the introduction of information technology and its numerous applications within the healthcare industry is expected to act as boon for the APDS market.
For instance, the GlucoSitter Software used for tracking the glucose level and insulin administration in case of hypoglycemic conditions received the CE mark in 2015 at the annual conference of the Advanced Technologies & Treatments for Diabetes. The software was the first of its kind to receive regulatory approval and will be commercially available through the company DreaMed Diabetes Ltd.
Browse full research report with TOC on "Artificial Pancreas Device System (APDS) Market Analysis by Type (Threshold Suspended Device System, Control to Range (CTR) System, Control to Target (CTT) System), and Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/artificial-pancreas-device-market
Further key findings from the study suggest:
Grand View Research has segmented the global APDS market on the basis of device, type, and region.
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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